What is a project champion?
The project champion is the person within an organization implementing a project who takes on the burden of ensuring everyone involved is on board and behind the ultimate success of the project. They are responsible for: Identifying a project’s strategic objectives.
What is the definition of a project choose two?
1. What is the definition of a project? Choose two. A project creates a unique product, service, or result and has defined start and finish dates. Projects must have resources in order to bring about their results, and they must meet the quality standards outlined in the project plan.
What is a project quizlet?
Project. A temporary endeavor undertaken to accomplish a unique product, service, or result.
Which stakeholder group provides financial resources for the project?
Sponsor
What are the 4 types of stakeholders?
Types of Stakeholders
- #1 Customers. Stake: Product/service quality and value.
- #2 Employees. Stake: Employment income and safety.
- #3 Investors. Stake: Financial returns.
- #4 Suppliers and Vendors. Stake: Revenues and safety.
- #5 Communities. Stake: Health, safety, economic development.
- #6 Governments. Stake: Taxes and GDP.
How do you identify stakeholders in a project?
Another way of determining stakeholders is to identify those who are directly impacted by the project and those who may be indirectly affected. Examples of directly impacted stakeholders are the project team members or a customer who the project is being done for.
What are stakeholders in a project?
A formal definition of a stakeholder is: “individuals and organizations who are actively involved in the project, or whose interests may be positively or negatively affected as a result of project execution or successful project completion” (Project Management Institute (PMI®), 1996).
Who are your stakeholders?
You have different roles and projects that affect, or are affected by, your stakeholders. As a teamleader your stakeholders will include your direct reports, your peers, your direct manager and the upper managers. In such a straightforward environment, identifying stakeholders is a relatively simple task.
What are examples of stakeholders?
What Is a Stakeholder?
- A stakeholder has a vested interest in a company and can either affect or be affected by a business’ operations and performance.
- Typical stakeholders are investors, employees, customers, suppliers, communities, governments, or trade associations.
Why are stakeholders so important?
Key stakeholders can provide requirements or constraints based on information from their industry that will be important to have when understanding project constraints and risks. The more you engage and involve stakeholders, the more you will reduce and uncover risks on your project.
Who is the most important stakeholder in a project?
Project Stakeholders
- Top Management. Top management may include the president of the company, vice-presidents, directors, division managers, the corporate operating committee, and others.
- The Project Team.
- Your Manager.
- Peers.
- Resource Managers.
- Internal Customers.
- External customer.
- Government.
Which stakeholders have the most power?
Company shareholders have the most direct power over companies through voting. Prior to or during annual meetings, shareholders may cast votes proportionate to the amount of stock they hold to influence or direct a business’s future actions.
At which stage does a typical project has maximum cost?
There is minimum requirement of personnel and hence minimum cost at the project initiation stage. 3. b. In the middle stages, the resources and cost usage is maximum.
What is the main output of the project execution phase?
Project execution (or implementation) is the phase in which the plan designed in the prior phases of the project life is put into action. The purpose of project execution is to deliver the project expected results (deliverable and other direct outputs).
At which stage stakeholders have the maximum influence on a project?
New PMP Question & Answers with explanation The stakeholder influence is highest at the start of the project and decreases as the project progresses towards completion.
What is the topmost source of conflict in a project?
The most frequent cause of conflict is schedules.
In which type of organization does the project manager has maximum authority?
projectized environment
Which of the following is not correct about the initial phase of a project?
The answer to this question is the option “D”. All the give options are correct. During the initial phase of a project, it is the stakeholders who have a maximum say as they are the initial investors.
Which of the following is longest phase of a project life cycle in terms of time?
The project execution phase is often the longest and most complex stage in the project life cycle.
Which is not a characteristic of project?
The answer is D. As PMBOK says, “A project is a temporary endeavor undertaken to create a unique product, service, or result”. There is nothing about project importance. Not necessary the case where project’s always critical.
What are at least two characteristics of a project?
Six Characteristics of a Project A project is typically for a customer. The project is temporary in nature. It typically has a defined start and a defined end-point. The project will have a unique set of requirements that need to be delivered within the boundaries of this project.